The New Year got off to a flying start for GVM Limerick with the quick sale of a 35ac non-residential farm at Ashford, Crecora, Co Limerick.
The holding was barely a week on the market when it was snapped up by a local businessman, who is believed to have paid in the region of €350,000 for the property.
The price equates to €10,000/ac which Tom Crosse, of GVM Property Sales described as a very satisfactory result.
"The lands are very well located being within five miles of Limerick City," explained Mr Crosse.
"The farm is nicely laid out in easily managed divisions and well watered and fenced," he added.
"While there is no residence or outbuildings with the property, there is road frontage of 56m, which, subject to planning permission, would be sufficient for one site."
Mr Crosse said he was confident the land market would be stronger this year.
"We have seen Co Limerick prices averaging €7,000 to €8,000/ac while holdings closer to the city are fetching around €10,000/ac," he said.
"There's no reason why this will not continue to be the case and I believe the price paid for the property at Crecora is an indication that 2011 will pick up where last year let off."
Mr Crosse also said GVM expected continued strong demand for seasonal land lettings and anticipated prices in the region of €150/ac.